The stock market is abuzz with activity as investors closely monitor the latest market news today. The day started with Vedanta announcing a successful Qualified Institutional Placement (QIP), with top investors like Goldman Sachs and Morgan Stanley among the buyers. The company raised a whopping ₹8,500 crore by selling 19.31 crore shares.
Meanwhile, the Nifty 50 Q1 earnings per share growth is expected to slow down to 10-15% in FY25, a significant drop from the 23% growth seen in FY24. This trend will have a major impact on the market going forward.
In another development, the market capitalization of 8 of the top-10 most valued firms surged to ₹2.10 lakh crore, with TCS and LIC leading the pack. TCS alone saw its valuation jump by ₹42,639.16 crore to ₹15,56,772.61 crore.
Investors are also keeping an eye on the return of the “Trump trade,” with a focus on small-cap and “old economy” stocks reminiscent of 2016. However, experts caution that this strategy may not necessarily pan out as expected.
Looking ahead, the upcoming week is packed with market triggers, including the Union Budget 2024 outcomes, Q1 results, F&O expiry, and global cues. Analysts predict increased volatility in the market due to these events.
Stay tuned to Mint’s market blog for real-time updates on all things Dalal Street and global markets. Keep track of top gainers and losers, sector movements, and how Asian and US markets fared. Don’t miss out on the latest market trends and developments.
